Re: Government aid for US mortgages

2004-03-26 Thread Michael Perelman
One nice primer I have found regarding the Fannie Mae Freddie Mac operations http://www.cbo.gov/showdoc.cfm?index=13sequence=2 -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu

Government aid for US mortgages

2004-03-14 Thread Robert Manning
It is actually more complicated since the US Federal Reserve directly influences the cost of bank funds that are resold to consumers directly through the Federal Reserve discount rate (currently 1%) . Also, the regulation (or lack thereof) of the sale of mortgage-backed securities on the

PEN-L] Government aid for US mortgages

2004-03-13 Thread Robert Manning
It is actually more complicated since the US Federal Reserve directly influences the cost of bank funds that are resold to consumers directly through the Federal Reserve discount rate (currently 1%) . Also, the regulation (or lack thereof) of the sale of mortgage-backed securities on the secondary

Re: Government aid for US mortgages

2004-03-13 Thread paul phillips
Robert Manning wrote: snip The investment risk of peaking US housing market prices (buttressed by historically low debt service levels) is globalized through the sale of these mortgage-backed securities in international markets such as London and Japan. Hence, low interest rates fuel higher

Government aid for US mortgages

2004-03-12 Thread Chris Burford
Gordon Brown and the British government have been looking enviably at the US mortgage market where long term fixed mortgages play a part in a mixed economy. Mortages in the UK are almost all short term. Arguably fluctuations in interest rates for national and international economic reasons, have

Re: Government aid for US mortgages

2004-03-12 Thread joanna bujes
The chief govt support in the US for mortgages (that I know of) is that interest paid is tax deductible. joanna Chris Burford wrote: Gordon Brown and the British government have been looking enviably at the US mortgage market where long term fixed mortgages play a part in a mixed economy.